More on CB&I (CBI -5.4%) acquisition of Shaw (SHAW] +66%): the deal, which is worth ~$3B,...

|By:, SA News Editor

More on CB&I (CBI -5.4%) acquisition of Shaw (SHAW] +66%): the deal, which is worth ~$3B, will create a company with 50K employees, a backlog of over $28B, and engineering and fabrication facilities on all continents. The firm will "become fully diversified across the entire energy sector." CB&I will use both companies' cash and $1.9B in debt to finance the agreement. Shaw will operate as CB&I Shaw.